Operating Expense Excess Sample Clauses
The Operating Expense Excess clause defines the amount by which a tenant’s share of operating expenses exceeds a predetermined base amount, typically set in a commercial lease. In practice, this clause requires the tenant to pay for their proportionate share of building operating costs that surpass the base year or base amount, such as increases in property taxes, insurance, or maintenance fees. Its core function is to allocate the risk of rising operating costs between landlord and tenant, ensuring that the landlord is protected from inflationary increases while the tenant is only responsible for costs above the agreed threshold.
Operating Expense Excess. With respect to the Expansion Space only, Tenant shall pay to Landlord, with respect to any Operating Year, Tenant’s Proportionate Share of the amount (if any) by which Operating Costs for the Expansion Space only for such Operating Year exceeds Operating Costs in the Operating Costs Base Year, such sum being hereinafter referred to as “Operating Expense Excess”. In determining Operating Costs in the Operating Costs Base Year, there shall be excluded from the Operating Costs for said Operating Costs Base Year any nonrecurring Operating Costs. In implementation and not in limitation of the foregoing, Tenant shall remit to Landlord pro rata monthly installments on account of projected Operating Expense Excess, calculated by Landlord on the basis of the most recent Operating Costs date or budget available. If the total of such monthly remittances on account of any Operating Year is greater than the actual Operating Expense Excess for such Operating Year, Tenant may credit the different against the next installment of rent or other charges due to Landlord hereunder. If the total of such remittances is less than actual Operating Expense Excess for such Operating Year, Tenant shall pay the difference to Landlord when billed therefor.
Operating Expense Excess. If the Operating Costs in any Operating year exceed the Operating Costs in the Basic Year, Tenant shall pay to Landlord Tenant's Proportionate Share of such excess, such amount being hereinafter referred to as "Operating Expense Excess." Operating Expense Excess shall be due when billed by landlord. In implementation and not in limitation of the foregoing, Tenant shall remit to Landlord pro rata monthly installments on account of projected Operating Expense Excess, calculated by LandLord on the basis of the most recent Operating Costs data or budget available. If the total of such monthly remittances on account of any Operating Year is greater than the actual Operating Expense Excess for such Operating Year, Tenant may credit the difference against the next installment of rent or other charges due to Landlord hereunder. If the total of such remittances is less than actual Operating Expense Excess for such Operating Year, Tenant shall pay the difference to Landlord when billed therefor.
Operating Expense Excess. Tenant acknowledges that Tenant’s payments on account of Operating Expense Excess for calendar year 2012 for the Reduction Premises are based upon estimated amounts of Operating Expense Excess for such calendar year. At the time that the actual amount of Operating Expense Excess for such calendar year is determined, Landlord shall notify Tenant in accordance with the reconciliation process set forth in Exhibit B to the Eighteenth Amendment and either Tenant shall promptly pay any underpayment for the Reduction Premises to Landlord or Landlord shall promptly refund any overpayment for the Reduction Premises to Tenant and such obligations shall survive the termination of the Lease.
Operating Expense Excess. If the Operating Costs in any Operating Year exceed the Operating Costs in the Base Year, Tenant shall pay to Landlord Tenant’s Proportionate Share of such excess, such amount being hereinafter referred to as “Operating Expense Excess.” If Operating Costs in any Operating Year decrease below Operating Costs in the Base Year, Operating Expense Excess for that Operating Year shall be $0. Operating Expense Excess shall be due when billed by Landlord. In implementation and not in limitation of the foregoing, Tenant shall remit to Landlord pro rata monthly installments on account of projected Operating Expense Excess, calculated by Landlord on the basis of the most recent Operating Costs data or budget available. No later than one hundred twenty (120) days after the end of the first calendar year and of each succeeding calendar year during the Lease Term or fraction thereof at the end of the term, Landlord shall render Tenant a statement in reasonable detail and according to generally accepted accounting practices certified by an officer of Landlord, showing for the preceding calendar year or fraction thereof, as the case may be, the Operating Costs. Said statement to be rendered to Tenant also shall show for the preceding year or fraction thereof, as the case may be, the amounts already paid by Tenant on account of Operating Cost Excess and the amount of Operating Cost Excess remaining due from, or overpaid by, Tenant for the year or other period covered by the statement. If the total of such monthly remittances on account of any Operating Year is greater than the actual Operating Expense Excess for such Operating Year, Tenant may credit the difference against the next installment of rent or other charges due to Landlord hereunder, or refund such amount to Tenant if the Term of the Lease has expired. If the total of such remittances is less than actual Operating Expense Excess for such Operating Year, Tenant shall pay the difference to Landlord within thirty (30) days after receipt of Landlord’s ▇▇▇▇ therefor. Such obligation to reconcile the payment of Operating Costs for any Operating Year at the end of the term shall survive the expiration of the Term.